Gold Ends Slightly Down Ahead of Meetings

Gold futures rose, while miners mostly dropped

   

PreciousMetalsRecap Gold Ends Slightly Down Ahead of MeetingsGold and silver prices wobbled Wednesday after yesterday’s big advances, with investors looking toward Thursday’s pair of meetings at the European Central Bank and the Bank of England.

Gold futures for February delivery fell 0.4% to $1,655.50 on Wednesday, according to CME Group. Gold traded as high as $1,666 and as low as $1,651.30. Gold bullion closed in London at $1,660, according to BullionVault.

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Silver futures for February delivery dropped 0.7% to $30.43 per ounce. Wednesday’s high for silver was $30.42, while the low was $30.13.

Gold and silver funds were mixed in Wednesday trading.

  • The SPDR Gold Trust (NYSE:GLD) was flat.
  • The iShares Gold Trust (NYSE:IAU) rose 0.1%.
  • The iShares Silver Trust (NYSE:SLV) fell 0.1%.

Gold and silver mining ETFs mostly fell during the day.

  • The Market Vectors Gold Miners ETF (NYSE:GDX) fell 0.7%.
  • The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) fell 0.7%.
  • The Global X Silver Miners ETF (NYSE:SIL) rose 0.2%.

Gold mining shares were mostly lower, with Kinross Gold (NYSE:KGC) losing the most.

  • Agnico-Eagle Mines (NYSE:AEM) was flat.
  • Barrick Gold (NYSE:ABX) rose 0.3%.
  • Eldorado Gold (NYSE:EGO) fell 0.7%.
  • Goldcorp (NYSE:GG) dropped 0.9%.
  • Kinross Gold dropped 1.7%.
  • Newmont Mining (NYSE:NEM) fell 1.5%.
  • NovaGold Resources (AMEX:NG) rose 0.8%.
  • Yamana Gold (NYSE:AUY) lost 0.2%.

Silver mining shares mostly advanced on Wednesday.

  • Coeur d’Alene Mines (NYSE:CDE) was flat.
  • Hecla Mining (NYSE:HL) rose 1.1%.
  • Pan American Silver (NASDAQ:PAAS) rose 0.5%.
  • Silver Wheaton (NYSE:SLW) increased 0.1%
  • Silver Standard Resources (NASDAQ:SSRI) climbed 0.3%.

As of this writing, Nate Wooley did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.


Article printed from InvestorPlace Media, http://investorplace.com/2013/01/gold-ends-slightly-down-ahead-of-meetings/.

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